Boost for buy-to-let option for retirees.
March 26, 2015
New figures confirm that retired homeowners are typically earning more than £7,000 each from their homes over the past six months, this is excellent news for retirees considering to use the Buy-to-Let option when choosing where to invest their savings that would otherwise have to have gone into an annuity.
This news is well timed just ahead of the change in pension annuity rules that come into force on 6th April, according to a recent study carried out by insurer Direct Line for Business found that almost 30% of people who had a pension said they were considering using some or all of their savings pot to purchase a buy-to-let property to provide them with an income during retirement.
People will no longer be forced to convert their pension pots into annuities, instead they will be able to withdraw their money in one go and spend or invest it as they wish, this policy should be a bonus for both property sales and lettings transactions.
However first of all we have to get the election out of the way and see who we have in power. There have been some negative vibes recently from agents in the industry as to if the outcome of the election was a Labour outright victory or even coalition, especially with the talk of Mansion Tax, Change in Landlord rules regarding minimum term rentals and rent controls, not long to wait now just over one month and the election will be decided.
You May Also Enjoy
Real Estate Lawyers: Who They Are and What They Do?
When you want to purchase or sell a property, the best course of action would be to seek help from professionals. Real estate transactions usually involve huge sums of cash, so the legal protocols are there to ensure your security and prevent you from falling victim to fraud. Hiring a real estate attorney is essential,…
Read More 
Weekly News Roundup – 03/05/24
A roundup of the week’s top property and proptech news stories in partnership with Proptech-X Table of Contents Is Zoopla holding back the housing market? Will Yardi’s multi-million gamble on WeWork the former £37Bn Unicorn pay off? Nimbus report gives oversight on retail market post Covid Is Zoopla holding back the housing market?…
Read More 
Rightmove’s weekly mortgage tracker – 02/05/24
Matt Smith, Rightmove’s mortgage expert said: “Next week’s Bank of England meeting will be quite key for setting the tone for mortgage rates leading into summer. An uneasy few weeks for the world economy has meant that there is still a lot of uncertainty around when we might see the first interest rate cut – and…
Read More 
Powering Up Your Brokerage: How Real Estate Apps are Transforming the Industry
The real estate industry once literally hand-to-hand with traditional printed flyers and face-to-face meetings became digital-friendly after the revolution of technology. Among the key drivers of this transformation is the real estate app through which brokerages redefine the role they perform and the way they interact with clients. Streamlined Workflows and Increased Efficiency Gone are…
Read More
Breaking Property News – 02/05/24
Daily bite-sized proptech and property news in partnership with Proptech-X. Is Zoopla holding back the housing market? Maybe it is me! and definitely me and my dog Zara do not think like most people, but – each month in the UK just 100,000 properties complete (exchange) and in the past decade this has been the…
Read More
Breaking Property News – 01/05/24
Daily bite-sized proptech and property news in partnership with Proptech-X. Fine & Country relaunches Masterclass Series for 2024 to support network in winning more business Set to take place in both London and Huddersfield, Fine & Country will be hosting informative and engaging Masterclass sessions again this year, sharing insight from property experts on…
Read More